NewEdge Wealth LLC grew its stake in Citigroup Inc. (NYSE:C – Free Report) by 50.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,813 shares of the company’s stock after acquiring an additional 12,704 shares during the period. NewEdge Wealth LLC’s holdings in Citigroup were worth $4,412,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of C. Wolff Wiese Magana LLC grew its holdings in shares of Citigroup by 87.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup in the 4th quarter valued at about $28,000. Dunhill Financial LLC lifted its stake in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after purchasing an additional 153 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Citigroup in the 4th quarter valued at about $32,000. Finally, Guerra Advisors Inc acquired a new stake in Citigroup in the 3rd quarter valued at about $33,000. Institutional investors own 71.72% of the company’s stock.
Citigroup Trading Up 0.2%
Shares of C stock opened at $125.85 on Tuesday. The firm has a 50 day moving average price of $118.40 and a two-hundred day moving average price of $113.39. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $215.81 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.56 and a beta of 1.14. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29.
Citigroup announced that its board has authorized a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Citigroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.9%. Citigroup’s dividend payout ratio (DPR) is 29.74%.
Insider Activity at Citigroup
In other Citigroup news, insider Cantu Ernesto Torres sold 43,173 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the completion of the sale, the insider directly owned 45,835 shares in the company, valued at $5,091,810.15. This trade represents a 48.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,318 shares of company stock valued at $10,764,814 over the last 90 days. Company insiders own 0.11% of the company’s stock.
Citigroup News Roundup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup strategists said U.S. stock market outperformance, led by a narrow group of large-cap tech names, still has room to run. That view can be favorable for Citigroup’s trading and investment-banking activity if equity markets remain resilient. Citi’s Manthey Says US Stock Outperformance Has Further to Run
- Positive Sentiment: Citigroup was highlighted by Investors.com as being in a “buy zone,” with a bullish options spread described as attractive. That kind of commentary can support sentiment around the stock. With Citigroup In A Buy Zone, This Bullish Spread Looks Attractive
- Neutral Sentiment: Goldman Sachs and Bank of America pushed back expectations for Federal Reserve rate cuts after stronger jobs and inflation data. A more “higher-for-longer” rate environment is mixed for Citigroup, as it can support net interest income but also keep pressure on credit conditions and borrowing demand. Goldman, BofA Delay Fed Cut Calls After ‘Last Straw’ Jobs Data
- Neutral Sentiment: Citigroup’s recent earnings backdrop remains constructive, with the bank having beaten quarterly EPS and revenue estimates previously. That supports the stock’s broader uptrend, though it is not fresh news.
Wall Street Analysts Forecast Growth
C has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Truist Financial set a $147.00 target price on shares of Citigroup in a research note on Friday, May 1st. Jefferies Financial Group initiated coverage on shares of Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. Barclays raised their target price on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, UBS Group reiterated a “neutral” rating and issued a $132.00 target price on shares of Citigroup in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.62.
View Our Latest Stock Analysis on Citigroup
About Citigroup
Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.
Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.
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